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House Price Crash Forum

a j

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Everything posted by a j

  1. My thoughts too. Brighton seems to be a very popular place among those with inherited/ unearned money. No doubt a lovely place to love but also a community which suits people of upper middle class upbringing and somewhat arty/ alternative views. Very sad for anyone who has to live their on a normal income as you are competing with those with no such restrictions. My advise would be to look elsewhere.
  2. Those London figures seem strange? Are there many new build 2 beds for £280k? Not sure I've noticed them.
  3. From reading ConservativeHome over the last week I think they are beginning to cotton on. Pretty much game over I'd suggest - the young can see that 9% tax increase on their payslips now and won't vote for the party of tax rises. The slightly less young are worrying about their next rent review. A mother of three asked today why she should consider voting Conservative - not a single answer to her question.
  4. For that size in that area £300k looks cheaper than normal - I'd guess its some really nasty block people have heard about. Exactly the sort of place not to buy in a frothy market.
  5. How much deposit will you have and how large a multiple of income will you be borrowing? Also, would you expect your pay to increase? At any rate the flat you are living in at the moment is seriously getting you down - you need to move away, whether by selling or renting out. No benefit in sticking out a bad situation.
  6. i looked at buying in Leytonstone a few years ago - and wish I had now of course. Its improved massively in that time, and had started gentrifying long before I started exploring the area. Its not the same type of area it was only 5 years ago - lots of cafes and bars replacing pound shops and cheap pasty emporiums.
  7. I think thats a fair point for people in their mid 20's, much less so for mid 30's onwards. The risks or stagnating or reducing incomes increase as you get older.
  8. not sure thats altogether the case. The have an ex council flat with no parking in outer London. She doesn't specify any further about the location but as there is no mention of it being near the tube I'd guess it isn't. Those places might well crash much more than family houses in established areas. She needs to sell and fast. Here is another one who expects a 30% increase in 3 years. https://www.mumsnet.com/Talk/property/2968690-Right-any-thoughts-apart-from-brexit-uncertainty-as-to-why-no-one-wants-to-buy-this-house?pg=1 At least she seems sensible and has a place she can live in.
  9. For years the 'many' loved house price inflation - and low interest rates. Now the proportion of the population who own their own homes is decreasing there is a changing balance of political incentive.
  10. Home ownership and rental conditions are now a political issue. Read the comments in the Conservativehome website, or for that matter the change in mumsnet comments over the years.
  11. Thats important - the fear of a huge cash outflow keeps people subservient. hopefully bad landlords will face a tough time.
  12. This place seems to have gained £50k in 4 months...... http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=53059090&sale=88447887&country=england
  13. How did you get on? I'm thinking of something similar but struggling to think it through.
  14. Zox - unfortunately lots of people have hung on in pokey 2 beds with 2 children and the need to work at home on occasions, and are now finding they can sell for £350-400k while seeing the jobs market pick up. For them, £550 doesn't seem crazy.
  15. Had an annoying discussion with my landlord today who is trying to charge me for some repairs which are either due to ageing bits and pieces or, if they were damage, should be discounted for age. I'd had a long day and refused - now the threat is to not renew my tenancy. The money involved was not huge (around £80) but I was pretty peeved about it - now wondering how dumb I have been. Anyway, perhaps someone has experience or advice. I'm coming to the end of a fixed term contract so am pretty worried about finding somewhere else without permanent employment (although I am fortunate enough to have money in the bank). How much of a problem is it? Rental prices at the lower end for OK areas (for example non tube linked zone 4 - such as Palmers Green, Enfield or zone 4 central line in East London) seem increasingly crazy - basically no one beds at less than £1000 per month and studios not a lot better. The movement of housing benefit recipients out of more central areas has really knocked up rentals. Even looking on Easyroomate there doesn't seem as much going as there was when I last looked 4 years ago, and at much higher prices. All the 'cheaper - might have to do' options for buying have flown up in price - often 30% in the last 15 months (no doubt from people desperate at the rental prices.....) Does anyone have any advice, or at least hopes for a fall in prices? I'm not looking forward to looking for work without anywhere to live.
  16. The reference to falling rents seems to refer to prime areas of London. Is this the effect of housing benefit cuts? In the zone 4 type areas anywhere near a tube rental prices seem to be increasing a lot over the last year. The collapse in gross yield is a product of rising prices rather than falling rents - sadly on both counts.
  17. London prices seem to br booming big time. Everywhere seems to norm out at around 4.5% gross rental return - and rents seem to be rising as well . Did we really think we would look to 2011 as golden age for buyers?
  18. Wow - thats 140 square meters. Worth sweating for a few years to buy for cash.
  19. It might not be - Leytonstone looks like a place which will be a middle class/ successful professional suburb within ten years. Walthamstow on the other hand has great connections, decent properties, but has been the next big thing/ up and coming for at least twenty years.
  20. Tend to agree about the price, but Prospect Road wasn't the best place to be when I knew St Albans, and not clear whether the house has private parking. For the same money this: http://www.rightmove.co.uk/property-for-sale/property-42940799.html looks a much better deal to me. Being in walking distance to the station makes a huge difference to quality of life (even if parents don't ever expect to work in London it could be important for their children as they look for work).
  21. What kind of percentage deposit do you have and what multiple of income would you be borrowing? This makes a lot of difference in case of changes in circumstance, local or national reductions in prices.
  22. I'd add that rental prices and competition are going crazy too, and lots of people have sat on the sidelines due to job uncertainty and are pretty desperate now, especially those in cramped flats with children.
  23. My fear is that there is a link between price and rentals (at least for anything up to 3 bedrooms and house share friendly). Seems to be running at a 5% gross return in general, somewhat less - maybe down to 4% - for fashionable areas.
  24. Unfortunately folk are not losing interest in owning. Unbelievably busy in every estate agent - real panic buying at the moment.
  25. I hear your pain..... Why Surrey Quay? I really like the area, but from a quick look at prices on rightmove I'd say that for somewhere without brilliant connections (unless close to Canada Water) the prices are high. I guess plenty of people with good salaries work nearby which can justify the cost. Where do you work and is your work location likely to change over the years?
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